Digital currency, or cryptocurrency, is an alternative payment method developed with encryption methods. Encryption technology enables cryptocurrencies to act as both a currency and a virtual accounting system. The use and...more
In today's world, violations of individual privacy and secret disclosure are a serious problem. It may be eavesdropping, interception, recording, and the spreading of personal information without the consent of the other...more
5/20/2025
/ Banking Sector ,
Cyber Crimes ,
Cybersecurity ,
Data Privacy ,
Disclosure Requirements ,
Enforcement ,
Medical Records ,
Penalties ,
Personal Information ,
Popular ,
Privacy Laws ,
Regulatory Requirements ,
United Arab Emirates (UAE)
In the UAE, it is legally permissible for banks to close a customer’s account if multiple checks are returned due to insufficient funds. All the banks and financial institutions in the UAE are regulated by the Central Bank of...more
Recently, the United Arab Emirates (UAE) updated and improved its maritime laws in order to strengthen the role that the maritime industry sector plays in international trade. Federal Decree-Law No. (43) of 2023 on Maritime...more
In the recent years, the UAE has brought about significant changes to its legal provisions regarding relationships between unmarried couples and children born outside the boundaries of a marriage. The law provides a...more
The Federal Tax Authority (FTA) of the UAE recently amended some provisions of the UAE VAT Executive Regulations, particularly Cabinet Decision No. 52 of 2017, on the Implementing Regulation of Federal Decree-Law No. 8 of...more
Introduction: The UAE has introduced a new competition law and abrogated the old competition law, federal law No. 4 of 2012. The new federal decree law No. 36 of 2023 on the regulation of competition sets forth competition...more
In simple words, a cheque is an order to a bank to pay a particular sum of money from the account of the issuer of the cheque, written on a specifically printed form. The issuer of the cheque is called the drawer, while the...more
2/20/2025
/ Banks ,
Consumer Financial Products ,
Criminal Penalties ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
Forgery ,
Fraud ,
Insufficient Funds ,
Regulatory Requirements ,
United Arab Emirates (UAE)
The advent and rise of cryptocurrency have been a disruptor to the traditional currency system. Even outside the virtual aspect of the currency, the concept is novel due to its accessibility and the level of anonymity...more
2/17/2025
/ AML/CFT ,
Anti-Money Laundering ,
Central Bank Digital Currency (CBDCs) ,
Compliance ,
Cryptocurrency ,
Financial Crimes ,
Financial Regulatory Reform ,
Financial Services Industry ,
Money Laundering ,
Regulatory Requirements ,
Virtual Currency
Obtaining a driver’s license is a rite of passage for every individual. It is a symbol of coming of age for teenagers and young adults, as well as the first significant step that one takes after moving to a new country. The...more
The UAE government has taken steps to move towards a fully digitized tax system by adopting E-Invoices. The E-invoicing process will be mandatory for all business to business (B2B) and business to government (B2G)...more
2/10/2025
/ Automation Systems ,
Digital Services ,
Innovative Technology ,
Invoices ,
Ministry of Finance ,
Payment Systems ,
Regulatory Requirements ,
Reporting Requirements ,
Taxation ,
Technology Sector ,
United Arab Emirates (UAE) ,
Value-Added Tax (VAT)
The Emirate of Dubai has recently passed new amendments to the existing “Dubai Law No. 4/2018 on the Establishment of the Financial Audit Authority” (“LAW”). As per the new amendments, financial fraud and misconduct in...more
1/27/2025
/ Anti-Money Laundering ,
Asset Freeze ,
Audits ,
Corporate Governance ,
Dubai ,
Enforcement Actions ,
Financial Crimes ,
Fraud ,
Government Entities ,
Misappropriation ,
Penalties ,
Public Funds ,
Regulatory Reform ,
Regulatory Requirements ,
Travel Ban ,
United Arab Emirates (UAE)
Affordable and safe public transport is an important requirement for the smooth functioning of daily life in any country. Dubai in particular stands out with an array of public transport available to choose from. Although the...more
1/22/2025
/ Dubai ,
Minors ,
Public Policy ,
Public Safety ,
Public Transit ,
Public Transportation ,
Regulatory Requirements ,
Safety Precautions ,
Safety Standards ,
Transit Authority ,
Transportation Industry ,
United Arab Emirates (UAE)
In recent years, the UAE has continuously updated its legal framework to enhance regulatory oversight and adapt to global financial trends. One significant development is the amended Federal Decree-Law No. 14/2018 on the...more
In recent years, the world has witnessed rapid growth in the popularity and adoption of virtual assets, including cryptocurrencies, non-fungible tokens (NFTs), and various other digital assets. With this rise, however, comes...more
4/24/2024
/ Central Bank Digital Currency (CBDCs) ,
Digital Assets ,
Digital Service Providers ,
Financial Markets ,
Financial Services Industry ,
Investors ,
Non-Fungible Tokens (NFTs) ,
Regulatory Requirements ,
United Arab Emirates (UAE) ,
Unlicensed Professionals ,
Virtual Currency
The UAE has embraced the digital era with the enactment of Federal Decree-Law No. 14/2023 on Trading by Modern Technological Means. This innovative law aims to regulate and reorganize e-commerce activities, fostering a...more
2/7/2024
/ Advertising ,
Artificial Intelligence ,
Biometric Information ,
Competent Authority (CA) ,
Consumer Protection Laws ,
Digital Marketplace ,
E-Commerce ,
E-Signatures ,
Internet Retailers ,
Ministry of Economy ,
Online Payments ,
Regulatory Requirements ,
Regulatory Standards ,
Risk Management ,
Technology ,
Websites
Consumer protection is a top priority in the UAE, especially concerning food safety. The UAE has established a comprehensive legal framework to safeguard consumers' health and well-being, with Federal Law No. 10/2015 on Food...more
The UAE is a popular destination for real estate investment due to its booming economy, attractive tax benefits and stable political environment. Purchasing a property in the UAE can be an attractive investment opportunity...more